Turning Innovation into Value

摘要: This paper describes the fundamental dynamics through which technological innovations create economic and social value. These exist at three interrelated levels: The organization, market, institutional context. Selected works in management of technology, system dynamics, entrepreneurship, factors literature are reviewed. principal identified expressed a conceptual model. By design, model is simple generic. It intended to apply broad range products services – assembled process-based, complex simple, physical digital, business consumer, early-stage mature, nineteenth-century twenty-first-century. That expresses what meant by value creation. In many variations combinations these can explain evolution most innovations. availability role models mentors, consequences failure, status quality venture leaders, reinforcing network effects all critical success for organizations attempting turn innovation into significant that review has highlighted human intellectual capital as top priority. Financing, while important particularly start-ups, appears be secondary resources. Obstacles obtaining resources, development new capabilities, market entry or exit, start-up companies, formation alliances, mergers acquisitions, establishment standards, adoption technology weaken virtuous reduce likelihood success.